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-   -   Multi Currency Credit Card ["Revolut"] (https://www.englishforum.ch/finance-banking-taxation/240252-multi-currency-credit-card-revolut.html)

Sparxxx 06.02.2019 09:39

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by 22 yards (Post 3038457)
Just to be clear, that's not a fee; it's interestóperfectly normal when an institution lends you money for a period of time.

Yep, I meant interest :). Thanks for fixing it.

LuganoPirate 06.02.2019 09:53

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by ZoeTheCat (Post 3022431)
Too many red flags came up after reading above article..

- Not officially a UK or European bank yet
- Deposits not insured
- With a UK IBAN we may see issues after Brexit
- Net Income 2017 ==> -14.8 M GBP
- Gross profit 2017 ==> -6.6 M GBP

So their basically a Start-up, not for me or my money...

IBAN = International Bank Account Number, so no issues after Brexit, as confirmed by both my UK, Swiss and other EU Banks.

wheatism 07.02.2019 18:20

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by LuganoPirate (Post 3038468)
...so no issues after Brexit, as confirmed by both my UK, Swiss and other EU Banks.


Also confirmed by Revolut themselves:
"If youíre a UK Revolut user, itís business as usual for the most part. For Non-UK Revolut customers, in the event of a no-deal, we will begin the process of transferring you to our European authorised subsidiary."
Source:Link



Frankly speaking I trust Revolut far more than many other banks I have dealt with... they are no longer exactly a "start up".

Clocker 07.02.2019 20:24

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by wheatism (Post 3039073)
Frankly speaking I trust Revolut far more than many other banks I have dealt with... they are no longer exactly a "start up".

It would be good to know how safe one's money is with Revolut though should anything major happen.

Landers 07.02.2019 21:11

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by Clocker (Post 3039130)
It would be good to know how safe one's money is with Revolut though should anything major happen.




They have a UK banking licence now so deposits should be (at least) protected by the FSCS regulations, right?

freeworld 09.02.2019 21:01

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by Clocker (Post 3039130)
It would be good to know how safe one's money is with Revolut though should anything major happen.

There was a discussion last year. Someone said that there is no protection if Revolut goes bankrupt. I don't know much about this issue.

switzerlove 09.02.2019 21:03

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by freeworld (Post 3039769)
There was a discussion last year. Someone said that there is no protection if Revolut goes bankrupt. I don't know much about this issue.

https://blog.revolut.com/we-got-a-banking-licence/

In the future, the acquired european banking license should prevent that. Afaik, the current accounts are unprotected though.

roegner 09.02.2019 21:05

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by Landers (Post 3039152)
They have a UK banking licence now so deposits should be (at least) protected by the FSCS regulations, right?

Some of the key benefits provided by a banking license is that customer funds will be protected under the European Deposit Protection Scheme (EDPS). This means up to Ä100,000 will be insured.

https://www.crowdfundinsider.com/201...nsion-in-2019/

What happens after Brexit is another thing....

Landers 10.02.2019 19:31

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by Sparxxx (Post 3038055)
It looks like they removed the fees for topping up with a Credit Card (tried with UBS). Topped up 4000.- CHF and had 0 fees. I tried only topping up CHF.
Not bad!


So one can top up with UBS credit card, aquire the UBS keyclub points, transfer the amount back to UBS account and repeat, all with no fee?

Dr Mick 10.02.2019 19:50

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by Landers (Post 3040078)
So one can top up with UBS credit card, aquire the UBS keyclub points, transfer the amount back to UBS account and repeat, all with no fee?

Well, they are two different companies, aren't they?
Would anything prevent you from sending money back and forth between an UBS and a Credit Suisse account?

22 yards 10.02.2019 22:24

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by Dr Mick (Post 3040086)
Well, they are two different companies, aren't they?
Would anything prevent you from sending money back and forth between an UBS and a Credit Suisse account?

No, but every time you paid money into the CS account using your UBS credit card, it would be treated by UBS as a cash advance, attracting fees and heavy interest charges. Apparently payments to Revolut are not treated as cash advances, but as purchases.

soswiss 17.02.2019 23:31

Re: Multi Currency Credit Card ["Revolut"]
 
Has anyone tried topping up by bank transfer in CHF? Curious how long it takes to be processed.

wheatism 17.02.2019 23:51

Re: Multi Currency Credit Card ["Revolut"]
 
@soswiss
Sending from postfinance itís next day, usually around midday after overnight processing I guess.

roegner 18.02.2019 06:06

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by soswiss (Post 3042786)
Has anyone tried topping up by bank transfer in CHF? Curious how long it takes to be processed.

Took 2 days with UBS

azt33 18.02.2019 07:08

Re: Multi Currency Credit Card ["Revolut"]
 
Similar here, took between 1-2 working days with Credit Suisse.

bowlie 20.02.2019 10:16

Re: Multi Currency Credit Card ["Revolut"]
 
Where can one find this Swiss IBAN?

roegner 20.02.2019 10:59

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by bowlie (Post 3043666)
Where can one find this Swiss IBAN?


If you have the Revolut app? Go to the part on transfering money, choose CHF and it will show you the IBAN

Phil_MCR 01.03.2019 17:59

Re: Multi Currency Credit Card ["Revolut"]
 
dark side of revolut:

https://www.finextra.com/newsarticle...on-cfo-resigns

The_Love_Doctor 04.03.2019 10:51

Re: Multi Currency Credit Card ["Revolut"]
 
Quote:

Originally Posted by Phil_MCR (Post 3046840)

The CEO sounds like a first class dick-tator... he better change tac, before itís too late... Iíve seen this kind of toxic work culture before and itís not healthy. The good people will not stick around and you end up with just the rot!

Phil_MCR 18.03.2019 09:35

Re: Multi Currency Credit Card ["Revolut"]
 
anyone know if/how you can pay orange payslips using revolut?


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